GPT Group

GPT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.90	Jnfqt	Dncdfgh

GPT: Well-Positioned For Eventual Commercial Property Recovery

Jon Mills

Jul 23, 2024

We retain our AUD 5.55 fair value estimate for no-moat GPT as we transition coverage to a new analyst. Shares trade around 21% below fair value. It remains one of Australia’s most diversified REITs, with around 35% of 2023 funds from operations coming from its retail or shopping center portfolio, a similar amount from office, 23% from industrial, and 8% from funds management.

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